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Hypo Alpe Adria: Greek Entrepreneur Xeniadis Signals his Interest in Buying
The Greek businessman Vasileios Xeniadis is prepared to offer 1.35 billion euro for Hypo Alpe Adria.
September 16, 2010
Direct Connection with Kabul - Afghan Kam Air Lands in Vienna
The private Afghan airline Kam Air started with the direct flights Kabul-Vienna-Kabul.
September 16, 2010
Vienna International Airport: Costly Investment at Friedrichshafen Airport
The financial disaster relative to the new Skylink terminal, which will cost nearly one billion euro instead of 400 million, is certainly the biggest problem the airport’s top management is facing - but not the only big one anymore.
September 16, 2010
OeNB: First-time Increase of Banks’ Total Assets Since End of 2008
By the end of June 2010 the unconsolidated total assets of the reporting banks in Austria amounted to 1037.98 billion euro.
September 16, 2010
Wine Exports: Prices Rose by 14%
Local winemakers were able to achieve an average price of 1.91 € per liter for exported wine. However, the total volume of wine exported declined.
September 16, 2010
Unemployment rate down 4.4%
Stable labour market in the second quarter 2010; more men and less women were employed than in the second quarter 2009.
September 16, 2010
Austrian Post Refurbishes its Board
ÖIAG boss Peter Michaelis gives green light for the refurbishment of the Post’s board. Meanwhile, rumors are growing that the changes will not only affect the parcels sector.
September 16, 2010
FMA publishes Q2 report on insurance industry
After getting off to a strong start in 2010, Austria's insurance industry has enjoyed a solid second quarter. Premium revenues grew in all balance sheet groups.
September 15, 2010
Volksbank Vorarlberg: High Losses in Switzerland
Commitment to financial advisor JML did not go as desired: losses up to 3.9 million euro
September 15, 2010
ÖIAG Boss Michaelis Under Pressure
ÖIAG Boss Peter Michaelis considers that the "campaign" against him evidences that "the actual work of ÖIAG provides no target for criticism." He considers his 700,000-euro salary as justified.
September 15, 2010
Investkredit and ÖVAG: As Of Now, They Have a Common Board
In addition to CEO Gerald Wenzel, Wolfgang Perdich, Martin Fuchsbauer and Michael Mendel are also members of the common board. The merger of both financial institutions is to take place in early 2011.
September 15, 2010
Telekom Austria Buys Two Bulgarian Cable Operators
Telekom Austria buys two cable operators in Bulgaria: Megalan Network and Spectrum Net. The two companies are worth 83 million euro free of debt; Telekom will pay about 72 million through Mobiltel.
September 15, 2010
Consumer Price Inflation down at 1.7 % in August 2010; HICP 1.6 %
August inflation down to the lowest rate since February
September 15, 2010
Construction cost index up 3.4% y/y
Today, Statistik Austria announced that construction prices rose 3.4 percent compared to August 2009.
September 15, 2010
Polytec Takes Off on the Stock Market. Huemer's Vision Blooms Again
The share of the auto supplier Polytec surprises the Vienna Stock Exchange with price jumps. "Who knows what is behind it," they say.
September 14, 2010
FMA and OeNB Welcome the Basel III Agreement
The package draws the right lessons from the financial crisis and provides for reasonable transition periods.
September 14, 2010
CEE Companies in a Turmoil
According to a study by Deloitte, last year Eastern Europe’s top 500 companies showed a clear decline in sales.
September 14, 2010
Asfinag Bond: The Motorway Operator Picked Up 1.3 Billion Euro
The local motorway operator Asfinag picked up 1.3 billion euro on the capital market.
September 14, 2010
Russian Fund Accuses RZB of Money Laundering
The Russian fund Hermitage Capital, which has been at loggerheads with the Russian authorities for years owing to a major tax fraud case, now accuses the Raiffeisen Zentralbank (RZB) for having aided and abetted the money laundering.
September 14, 2010
Magna - Siegfried Wolf to leave in November
Magna International Inc. today announced that Siegfried Wolf, Magna's Co-Chief Executive Officer, has resigned as a director and officer effective November 15, 2010.
September 13, 2010
EVN building cogeneration plant in Plovdiv/Bulgaria
Today, Prime Minister Bokyo Borissov, Provincial Governor Erwin Pröll and EVN's CEO Burkhard Hofer oversaw the ceremony for the construction of a highly efficient cogeneration plant in the city of Plovdiv.
September 13, 2010
The American Chamber of Commerce in Austria is celebrating its 50th Anniversary
For over 50 years AmCham Austria has been promoting economic and trade relations between Austria and the United States of America.
September 13, 2010
OMV targets a 20% market share in Serbia
Important changes are foreseen for 2011 in the Serbian oil industry. Because, effective from January 1, the energy company NIS will lose, albeit theoretically, its artificially upheld monopoly position…
September 13, 2010
Austria stays among the top three foreign investors of the Czech Republic
After the deep slump of the Austrian-Czech foreign trade during the crisis year 2009 by approximately 20%, things are going up steeply again.
September 13, 2010
Plansee expands into India and China
Despite the decline in sales, the Tyrolean company Plansee expands into Asia.
September 13, 2010
After its merger with PartyGaming, bwin has moved its headquarters to Gibraltar
The domestic Internet betting provider bwin recently merged with the British PartyGaming, and becomes the world's largest betting provider. However, the company has moved its headquarters from Vienna to Gibraltar after the takeover.
September 13, 2010
Hypo: 700,000 € go from Berlin to KPMG
The auditing firm, formerly headed by the current Hypo-boss Kranebitter, received more money than previously known.
September 13, 2010
Vienna International Airport: 13.0% increase in passengers during August 2010
In August 2010 the number of passengers handled by Vienna International Airport increased 13.0% year-on-year to 1,991,481.
September 10, 2010
Erste Bank intends to become Austria´s leading bank by 2015
Erste Bank, the banking unit of Erste Group responsible for Austria, announced that it was planning to overtake Raiffeisen and become Austria´s leading bank by 2015.
September 10, 2010
Sugar cartel held Austria by the short hairs from 2004 to 2008
Südzucker, Agrana and another provider sealed off the Austrian sugar market by collusion from 2004 to 2008. The Competition Authority has filed an application for a fine. A chief witness has spilled the beans.
September 10, 2010
Wifo: Economy grew by 2.4 % in the second quarter
According to the Wirtschaftsforschungsinstitut (Economic Research Institute) the growth in the second quarter was due mainly to exports and investment. For the rest of the year, however, the Institute expects a slowdown in economic activity.
September 10, 2010
ÖBB: Layoff of 100 executives and 1,000 administrative jobs
In order to save the financially strongly ailing ÖBB, it is being set on a course of austerity by the new boss, Christian Kern, who has been appointed on Friday. 100 executive and 1,000 administrative jobs are to be cut within the next three years.
September 10, 2010
XXXLutz takes over Slovenia's largest furniture retailer
The furniture store XXXLutz recently took over Slovenia’s largest furniture retailer Lesnina.
September 10, 2010
Bauhaus arrives in Bulgaria via Vienna
The German do-it-yourself group Bauhaus, which controls all its CEE business from Austria, has ambitious plans for Bulgaria.
September 10, 2010
Hypo Alpe-Adria-Bank - The new Group Press Officer
Dominic Köfner to take on the role of Group Press Officer for Hypo Alpe-Adria-Bank International AG (HGAA)
September 9, 2010
Slovakia increases VAT temporarily
As soon as the budget is back on its feet, the tax will be 19 percent again, according to Prime Minister Iveta Radicova. A deficit of up to eight percent is forecast for 2010.
September 9, 2010
Zotter intends to conquer German cities
The Styrian chocolate maker Josef Zotter wants to open chocolate shops in the German cities of Berlin, Hamburg and Munich. He is currently looking for experienced franchise partners.
September 9, 2010
Personnel-leasing PSL - 61 positions are tottering
As part of its reorganization, PSL wants to lease the company for a rent of 80 percent of the POA to the new PRS Personalservice GmbH.
September 9, 2010
Gambling - Awarding of Austrian concessions not in line with EU laws
After Germany, the domestic monopoly must also be abolished. According to the EU Court of Justice, the awarding of the concession to Casinos Austria is against EU laws due to the lack of a call for tenders.
September 9, 2010
Reorganiser Grossnigg is interested in S&T
The in deficit IT group S&T is about to be restructured. Format, the Austrian magazine, reports that reorganizer Erhard Grossnigg intends to take over the majority of shares.
September 9, 2010
Putin: Gas pipeline Nabucco with "little chance of success"
Putin gives the competition project of the South Stream gas pipeline little chance of being realized, because as of now, Nabucco has no suppliers.
September 8, 2010
Horváth & Partners Study - CEE remains attractive
A new study of the Horváth & Partners Management Consultants studied the success factors for setting up the subsidiaries of production sites in CEE.
September 8, 2010
Parker Hannifin opens subsidiary in Upper Austria
In the future, Parker Hannifin, a U.S. industry supplier, will operate in 17 CEE countries from Austria.
September 8, 2010
Energy - Three offers for Verbund power plants
Those interested are European companies. By mid 2011 the partial sale of Innkraftwerke shall be completed. Right now the current prospects review the economic documents.
September 7, 2010
Berlakovich - Agricultural subsidies must not fall
ÖVP Minister of Agriculture Berlakovich rejected the demand of EU Budget Commissioner Lewandowski. The agricultural budget is one percent of the EU budget and can not continue to shrink.
September 7, 2010
First half-year 2010: trade volume of more than 50 bn euro in both trade flows
Austrian imports increased by 12.3% and Austrian exports rose by 12.5% compared to the same period in 2009.
September 7, 2010
Wholesale price index in August up 5.6%
Wholesale price index in August 2010: +5.6% against August 2009
September 7, 2010
Riedel opens office in Shanghai
Georg Riedel, head of family-owned glass maker Riedel, has announced plans to put more focus on the firm’s investment in China.
September 6, 2010
Turnover in Services Sector increased by 1.9% in the first half of 2010
Based on results for the first half of 2010, turnover of Austrian services enterprises at nominal values rose by 1.9% compared to the first half year 2009.
September 6, 2010
The Austrian electricity price index ÖSPI is to decline in October
The electricity price index for October 2010, calculated by the Austrian Energy Agency (Österreichische Energieagentur), indicates that in October prices of electric energy will fall.
September 6, 2010
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